California Civil Code

§ 1812.206

CIV § 1812.206 Effective Jan 1, 2010Div. 3 · Title 2.7 · Part 4

Statute text

At least 48 hours prior to the execution of a seller assisted marketing plan contract or agreement or at least 48 hours prior to the receipt of any consideration, whichever occurs first, the seller or his or her representative shall provide to the prospective purchaser in writing a document entitled “SELLER ASSISTED MARKETING PLAN INFORMATION SHEET.” The seller may combine the information required under this section with the information required under Section 1812.205 and, if done, shall utilize the single title “DISCLOSURES REQUIRED BY CALIFORNIA LAW,” and the title page required by Section 1812.205. If a combined document is used, it shall be given at the time required by Section 1812.205, provided that this time meets the 48-hour test of this section. The information sheet required by this section shall contain the following:

(a)The name of and the office held by the seller’s owners, officers, directors, trustees and general or limited partners, as the case may be, and the names of those individuals who have management responsibilities in connection with the seller’s business activities.

(b)A statement whether the seller, any person identified in subdivision (a), and any other company managed by a person identified in subdivision (a):

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Legislative history

Amended by Stats. 2009, Ch. 500, Sec. 13. (AB 1059) Effective January 1, 2010.